Transat A.T. Reports Fiscal First Quarter 2026 Net Loss of $29.5 Million or $0.73 per Share
- Joe Breitfeller
- 2 hours ago
- 3 min read
Transat A.T. has reported a fiscal first quarter 2026 net loss of ($29.5) million or (0.73) per share, an improvement compared to a net loss of ($122.5) million or ($3.10) per share during the same period last year.
On Tuesday (March 10, 2026) Transat A.T. Inc. reported their fiscal first quarter 2026 financial results for the period ending January 31, 2026. The carrier reports a fiscal first quarter net loss of ($29.5) million or ($0.73) per share on a year-over-year increase in revenue of 5.0 percent to $870.7 million. At January 31, 2026, Transat had cash and cash equivalents totaling $386.7 million compared to $164.9 million as at October 31, 2025. Cash and cash equivalents in trust or otherwise reserved mainly resulting from travel package bookings totaled $528.1 million as at January 31, 2026, compared with $430.0 million as at October 31, 2025, reflecting the seasonal nature of operations. The company’s long-term debt and deferred government grant totaled $375.0 million, down from $813.4 million at the end of Q1 FY2025. Customers deposits for future travel totaled $1,089.6 million as at January 31, 2026, compared to $823.3 million as at October 31, 2025.
In Tuesday’s announcement, Transat’s President and CEO, Annick Guérard, said,
“Transat delivered solid financial results in the first quarter of 2026, reflecting continued momentum from the diligent execution of its profitable growth strategy. Key initiatives implemented in the last several quarters, including our Elevation Program, diversification of network routes and airline partnerships, produced a 5% revenue growth and a strong 68% year-over-year increase in adjusted EBITDA. In terms of operating metrics, we are equally pleased with our performance, highlighted by traffic growth of 2.2% and a fifth consecutive quarter of yield improvement. Overall, our achievements demonstrate that Transat is moving in the right direction in laying the foundation for long-term shareholder value creation.
“Following the end of the quarter, we temporarily suspended all flights to Cuba until April 30 due to an anticipated fuel shortage at destination airports and organized repatriation flights to Canada to ensure the safety and well–being of our customers. Importantly, we redeployed a portion of the affected capacity through our South network, where we have seen an influx in demand. We will continue to monitor the situation closely to determine when flights to Cuba can safely resume.”
Also commenting on the company’s fiscal first quarter 2026 financial results, Transat’s Chief Financial Officer, Jean- François Pruneau, said,
“We are encouraged by improved profitability in the first quarter. Adjusted EBITDA grew significantly to $34 million, driven by higher revenues and improved cost efficiency, reflecting the positive impact of our Elevation Program. In addition, a strong operating cash flow enhanced our financial position, enabling us to reimburse $25 million on our revolving credit facility during the quarter, followed by a $30 million repayment on our working capital facility in early February.”
Montreal-based Transat A.T. Inc. (TSX: TRZ), the parent company of Air Transat, was founded in 1987. The company has 5,000 employees and is a leading leisure airline in Canada, as well as the top integrated tourism company. Transat offers vacation packages, hotel accommodations and air service to destinations across the Americas, Europe, the Caribbean, and North Africa. With codeshare and interline partnerships, Air Transat offers service to over 280 destinations worldwide. In 2025, Air Transat was voted the ‘World’s Best Leisure Airline’ at the Skytrax World Airline Awards. The carrier is currently renewing their fleet with the most fuel-efficient and environmentally aircraft in their class, as part of Air Transat’s commitment to a healthier environment, knowing that this is essential for the preservation of the magnificent destinations they serve.
Source: Transat A.T. Inc. / CNW
